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Tag Archive: Negotiations

Jul 12

Early Preparation is the Key to Successful Negotiation

Failing to prepare is preparing to fail is a very old saying and fits in aptly for negotiations. Any successful negotiation is about mutually agreeing to terms which lead to a long lasting relationship. Negotiations is never about scoring a quick one way victory at the expense of the other party.

Negotiation is your opportunity to demonstrate your commitment to a long-term relationship by maximizing value for both parties. And do remember that you may be a great negotiator however experience, bargaining skill, or persuasion cannot compensate for the absence of preparation.

Early preparation gives you an undisputed edge in negotiations, Research and history shows that early preparation and planning remain a weak area for many of us. Interpreted differently this means that you can gain an edge in the game in case you prepare in advance. This holds true for both sales and personal negotiations.

If you were to study successful negotiators like Gandhi, Martin Luther King or Roosevelt you will find one trait to be common among all of them, they always did their homework in advance. Most of the successful negotiators spend hours discussing the approach and their arguments/ counter arguments with their trusted aides. They read about the other party, find information through their network and try to find out what makes the other party act/ react.

By preparing in advance for negotiations you will be able to work out different scenarios and will feel more comfortable to deal with them during the course of negotiations. You will be able to display calmness during the course of negotiations. Look at Chess champions like Gary Kasparov or Anand Viswanathan. What do they do during a game? , they calculate the greatest number of maneuvers possible, move by move. And by chance can you guess what do they do before the game? They study their opponent’s previous games one by one. In addition they also study their opponent’s psychology, resistance to stress, break points etc.

Most of the people I know skip this stage as it may not be as stimulating as the actual discussions. Don’t make this mistake and repent later on.

So where should you start from once you have decided to negotiate .The first step is to get informed and study the issue on hand. You need to develop an overall view of the situation. To do this ask yourself the following questions

    • What is this issue about?
    • What are the problems that I can foresee?
    • Who does it involve?
    • Why does it involve the people who are involved – what are their interests and objectives?
    • What are the motives of the people involved in the issue?
    • What are the different versions of the facts on the same issue?
    • What information do I have at my disposal?

Early negotiation preparation includes thinking about differences in a constructive way.

Differences can be an asset! Differences can be traded as they rarely have equal value to both sides. An issue might have less priority to you and a greater priority to the other side. “The Chinese use two brush stokes to write the word “crisis”

One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger – but recognize the opportunity”. Negotiation preparation helps you to convert impending crisis to an opportunity.

Thanks

Jappreet Sethi

Copyright secured by Digiprove © 2012 Jappreet Sethi

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Apr 24

Have You Been Cornered In A Negotiation: What to Do?

Negotiation is a bit like See- Saw, it assumes that a point of balance will be found even though the participants may start at the opposite ends of the scale. in negotiation both the parties will settle for something which they relate to be a good deal. In negotiation the concept of range and possibilities is very important, the balance may not be at the center, and ranges of solutions are possible around the midpoint.

During the negotiations In the process of finding this balance sometimes the other party may corner you and you may feel cornered, the traditional approaches may not work and you can rapidly lose ground. Follow these simple tips in case you get stuck in a negotiation.

Right to Keep Quiet in negotiation

  • Silence is golden, often saying nothing is more powerful than anything you may want to say. Silence can be very unnerving for the other party and they may begin to speak to fill the vacuum created by silence. This may lead them to disclose more than they may have given out at the first stage during negotiation.

Keep on Listening during negotiation

  • Make sure you are intensely listening  and practice the art of summarizing and clarifying as they speak,  make sure that you give them signal that you are listening intensely and encourage them to continue. Nodding your head or use of words like – I see, Hmmm can be useful in negotiations.
    • Ask clarifying questions – what did you mean by that?
    • Probes – “Why did you say this?
    • Motives – What led you to that position?
    • Don’t negotiate assumptions – negotiate facts

Reduce your pace of speech in negotiation

  • At time we speak at approximately 120 + words a minute and lord almighty has bestowed us with the ability to listen to 240+ words a minute. So there is no need to panic and rush, there is enough time. Use tone modulation and depth of voice to convey honesty and seriousness. In your speech build in pauses so that you can watch the impact your words are having on the other party during negotiations.

Reserve your firepower and trump card in negotiation

  • You should not offer more concessions if you have been cornered, every concession you give needs to be reciprocated.  Encourage the other side to spell their needs and delink it from the positions they are taking to defend it. You should also spell your needs and then barter them with each other in the end. Offering too many concessions in the starting may reduce value creation in negotiation.

Keep your cool

Sometime the other party may use emotional barrage to derail the negotiation process. Let the other side blow off steam and vent frustration, don’t react. Return to main issue or take break in case it gets very acrimonious. Don’t walk into the trap of derailment.

Whatever be the situation never assume that you have lost it completely. Stand up for your rights.  These situations teach you the most in life; this is where you really have to negotiate!  . In negotiations caring deeply may not cut ice, only effective preparation and focused attention make the difference.

Jappreet Sethi

Copyright secured by Digiprove © 2012 Jappreet Sethi

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